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EURNZD Wave Analysis – 15 July, 2019

The FxPro Tech Analysis Team
EURNZD Wave Analysis – 15 July, 2019

Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images

EURNZD recently broke the support area lying between the key support level 1.6820 (which reversed the previous impulse 1), 100-day moving average and the 50% Fibonacci correction of the pervious upward impulse from March.

The breakout of this support area accelerated the active short-term impulse wave 3.

EURNZD is expected to fall further and retest the next support level 1.6700 (former support from April).

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